/IRBIS, September 04, 02/ - Following is the table of major indicators of Kazakhstan market for U.S. dollar (more than 99% of country's all currency market). Trends are shown relative to corresponding figures of previous day.

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Trades in U.S. dollars at Kazakhstan stock exchange (KASE)
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Instrument                   USD TOD       USD TOD     USD TOM      USD SPOT
Session                         Main   Additional.     Evening       Evening
Time of trades (AST)   10:15a-11:00a  11:30a-3:30p 2:00p-6:00p   2:00p-6:00p
Rate (KZT/USD)         154.45(-0.17) 154.47(-0.06)           -             -
Volume of session (m)  4.000(-7.385) 3.300(-3.980)           0             0
Bid                    154.44(-0.17) 154.46(-0.04)           -             -
Offer                  154.45(-0.17) 154.47(-0.06)           -             -
Number of participants        17( 0)        10(-4)           0             0
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Indicative
U.S. dollar quotations in over-the-counter market in information system
REUTERS at closing of KASE sessions (disregarding settlement dates)
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Bid                    154.43(-0.17) 154.45(-0.01)             154.46(-0.01)
Offer                  154.48(-0.17) 154.50(-0.01)             154.50(-0.02)
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Notes: weighted average rate is given for main and evening sessions, for additional - closing rate; best ask and offer prices at closing of the trades are shown as the Exchange's quotations.

As IRBIS analysts expected on Tuesday, the market condition of US dollar had changed during the day. However, the break point in tendency of rate dynamics occurred at much lower levels than it was forecasted. The market found its "bottom" at the level of 154.44 tenge per dollar. It happened during the morning session at KASE under the pressure of USD offer from the side of one of the banks, which specializes on exporters' servicing. In the afternoon the offer volume decreased, but the bid remained the same, which led to the turn of the tendency. Both at the Exchange and over the counter according to quotations dollar rate was pushed off from 154.44 and in the second half of the day began to aggravate to growth.

It is important to mention that on the exchange floors the bid and the ask were strongly monopolized. It can be said that the currency was selling mainly by one bank, and was bought by two. The National Bank didn't uphold the market from below. Thus, stabilization of dollar rate seems to be objective and is conditioned by gradual fall of sale volume of American currency. Corresponding accounts of STB are growing, and the price of the shortest money declines. This creates premise for growth of dollar bid in the near future.

On Thursday IRBIS specialists expect minimum price dynamics. Most likely, to the end of the first month's decade the offer volume of dollars will stabilize, and the bid will be growing. This will provide with minimum volatility of the rate during the exchange trades.

[2002-09-04]